Penske Saturn Deal is Official
Penske has officially purchased Saturn from struggling car maker General Motors – saving 13,000 jobs and 350 car dealerships. It will only be a matter of time before you can rent a Vue to move out of your apartment. And all future Ion’s will come equipped with trailer hitches. But seriously folks – Robert Penske’s purchase of the company will allow hundreds of car dealers to continue selling automobiles to the public, and save a fraction of jobs compared to what GM is cutting – though it;s still a sweet deal. According to WSJ Online: “GM and Penske have a memorandum of understanding signed, and the deal is considered tentative at this point. Penske declined to disclose the price tag of the Saturn deal. He said the sale is expected to preserve around 13,000 jobs.”
Sep 28th, 2009 at 8:01 am
[...] earlier this year when we announced moving van renters Penske would buy out Saturn & possible keep it alive? Well, it’s still on…allegedly. A recent Automotive News [...]
Oct 1st, 2009 at 11:59 am
[...] is possibly dumping the Saturn name. Penske decided to drop their tentative agreement yesterday to purchase Saturn from GM – stating there were concerns GM would not produce vehicles even after the purchase went [...]